This website uses cookies to ensure you have the best experience. Learn more

Strategy Essay

1107 words - 5 pages

Performance Management
Terri Sleeth
BUS681: Business and Compensation
Instructor: Leo Smith
September 7, 2014

Performance Management Page 1
Performance Management is a structured way for an organization to improve the effectiveness of their employees. In this paper we will examine aspects of performance management and how it effects organizations and their employees.
When we think about performance on the job, we often consider productivity or we think of how well a person does their job. We don’t often realize just what is involved in seeing how a person’s performance ...view middle of the document...

* Regular communication sessions provide opportunities for objective discussion of the role and opportunities for changes
* Job satisfaction, productivity and employer loyalty to the business are likely to increase as employees feel that their work is recognized and valued
* Staff that are not performing well have problem areas clearly identified and are given the opportunity to improve
* Situations of underperformance are addressed early and unfair dismissal claims are minimized. (Performance Management. (n.d.).

Now that we are aware of what benefits come from a performance management plan, we can now look at what details make a great management plan. If we have all the knowledge and follow the plans, but do not have the idea plan, it can lead to an awkward situation for both managers and employees. This means if neither the managers nor the employees understand the process no one really knows what is going on within the organization and it only leads to more questions and frustration. Performance often tends to have a negative stigma for many employees due to the fact that no matter what they present to management, it is not good enough to receive an increase in pay or a bonus of any type.
As stated in discussions, often the goals are set to high and are no way obtainable. When we review performance management, we must realize that the goals must be obtainable for the

Performance Management Page 3
employees. In return these reachable goals boost morale, improve performance and become a better work environment for managers and employees. Once a goal is set and is continually reached or better yet, over-reached, then the goal can be increased. To make performance appraisals effective, managers and employees must discuss the goals and what is expected from the employee and the team as a whole. If the employee is having difficulty reaching their goals they also need to discuss what stumbling blocks are in their way and how they can remove these blocks.
When we review the information in our text, we can come to the understanding that we need to make sure our performance standards are clear. We also must realize the stumbling blocks that can occur in our process and work through these stumbling blocks. For example, rating errors almost always occur, according to our text rating errors reflect differences between human judgment, processes versus objective, accurate assessments uncolored by bias, prejudice, or other subjective, extraneous influences. (Martocchio, 2011)
Over the past few years, there has been a surge of interest in pay for performance. One by-product of this trend is that more HR executives are placing pay-for-performance technologies - systems that successfully automate and...

Other assignments on Strategy

Operations Strategy Essay

632 words - 3 pages February 9, 2012 BUSM 302 Operations Management Operations Strategy of Dell The main function of an operations strategy is to ensure that a plan is in place for the operations of the company so that is can as productive as possible with the use of available resources. These companies have to ensure that their operations plan is place and that it is functioning properly in order to achieve desired results within the market place. I am

Business Strategy Essay

615 words - 3 pages I. What is Strategy? A. Strategy – is its theory of how to achieve high levels of performance in the markets and industries within which it is operating. 1. Evaluating and choosing a strategy require an understanding of both the economic logic from which a strategy is derived and an understanding of the organizational logic through which a strategy is implemented. II. The Strategic Management Process A. The Strategic Management

Marketing Strategy

1557 words - 7 pages MARKETING STRATEGY TEMPLATE START-UP ORGANISATION, PRODUCT OR SERVICE ACEVO/IG/Marketing Strategy/V3-DN 1 Executive Summary – rundown of what’s in the document (often completed last) Purpose Use this template to capture the key information that you need to develop a thorough marketing strategy. Then use the information that you collect, along with other *development tools, to build your marketing strategy. This template is

Strategy Management

1121 words - 5 pages is to carry out a critical analysis and evaluation of strategy development in the global sport’s industry, using the information provided and other materials researched. You will be expected to select and apply appropriate theories, techniques and models studied during the module whilst having regard to the practical aspects of strategy development. Your assignment should be presented in a business report format and should be within the range

Business Strategy

2010 words - 9 pages Global strategy and leadership Topic 1 1 briefly outline the development of strategy 2. Examine some of the main concepts that inform our knowledge of strategy and leadership. 3. distinguish between the different approached to strategy The rational approach(有时间顺序)eg. The evolutionary approach The essential purpose of this approach is to assess the organization and its environment, achieve a fit between the two and, on the basis of this

Marketing Strategy

1605 words - 7 pages Marketing Strategy Chaunte Rhone MKT/421 March 23, 2011 Instructor Rebecca Robbins   Marketing is a process that encompasses every aspect of an organization’s ability to provide products or services to customers, suppliers, and communities. An organization’s marketing mix is crucial to producing successful results that will increase consumer patronage, sales, and profits. The four elements of the marketing mix, which includes product

Pricing Strategy

1998 words - 8 pages Table of Contents Introduction..............………………..………………………………...2 Pricing Strategy.............................…….………..…………………… 2 Non-price Barriers to Entry...……………..…...…………….……… 3 Ideas for Product Differentiation...……..………..……….………… 3 Markets………………….……………..................................………… 4 Profit Maximization.............................................................................5 Loss Minimization

Marketing Strategy

3873 words - 16 pages traditional baked clay bricks manufacturers. Although currently our company has not been formally put into operation, but hopefully with the marketing strategy outlined below, we can assert our position and capture a larger market share. 1. Market description SUPERBLOCK’s market consists of consumers and business users who prefer a new material which is lighter and more durable for constructing projects. Table below describes how SUPERBLOCK

Business Strategy

3960 words - 16 pages Name: |BUSINESS STRATEGY | |Unit Number: | | |Assignment Submission Date: |31 November 2012 | |Assessor

Business Strategy - 7849 words

7849 words - 32 pages Assigment 1st Assigment 1st Business Strategy Prepared for: Mr. Pham Quoc Khanh (Lecturer) Banking Academy, Hanoi BTEC HND in Business (Finance)  Prepared by: Pham Ho Viet – Vizo – F05C Submission Date: Number of words: Business Strategy Prepared for: Mr. Pham Quoc Khanh (Lecturer) Banking Academy, Hanoi BTEC HND in Business (Finance)  Prepared by: Pham Ho Viet – Vizo – F05C Submission Date: Number of words

Teaching Strategy

606 words - 3 pages TEACHING STRATEGY EDUC 556 Strategies for Classroom Management This article examines the importance of creating developmentally responsive classrooms that meets the needs of all students. As an instructor you will have many diverse learners and it is essential to create an effective teaching strategy to incorporate in the classroom. Engaging students in the learning process and creating avenues to promote productive classroom

Similar Documents

Strategy Essay

300 words - 2 pages Planning strategy was once predominant in the 1960s and 1970s. Although it faltered in the 1980s and 1990s, it still continues to be a significant influence today. While the fact that many industries continued to experience turbulent was the main reason of the fall of planning strategy, it also accounted for the rise of the emergent strategy. Entrepreneurial organizations increasingly rely on emergent strategy development rather than formal

Strategy Essay

1963 words - 8 pages “Strategy as Stretch and Leverage” G. Hamel and C.K. Prahalad (1993) A Critical Analysis Word Count: 1624 Introduction Strategy, and the form it should take when used in business processes have long been a source of debate – and with extremely varied outcomes being proposed as the ‘best approach’. This said there are some key themes and core strategic ideas that have emerged and developed across these ideas over time. In this article

Strategy Essay

8616 words - 35 pages .................................................................................................. 7 2.2 Company strategy .............................................................................................................. 8 2.4. Competitive strategy......................................................................................................... 9 Chapter 3 Market Review

Strategy Essay 837 Words

837 words - 4 pages wage abuse, child labour and trade union discrimination. It was criticised for its culture of disposability and use of toxic materials.” Nike has long faced globally coordinated protests from NGOs and documentary makers like Michael Moore but in 2009 their strategy took a dramatic change. Switching from one of the most unethical businesses across the world to a sustainable marginally ethical business, with the aid of Hannah Jones Nike undertook a